Pharmaceutical giant Novartis has announced a partnership with Blackstone Group's biopharmaceutical investing arm, Blackstone Life Sciences, to create a new biotech start-up, Anthos Therapeutics.

Anthos will focus on next-generation targeted therapies for patients at high risk for cardiovascular disease, aiming to develop a drug that treats blood clots in acute and chronic situations to prevent a variety of disorders.

The collaboration, will is backed by a $250 million investment from Blackstone, will also gain rights to Novartis' MAA868, an investigational antibody directed at Factor XI and XIa.

MAA868 had reached Phase II development with potential for use in stroke prevention and atrial fibrillation, and Blackstone indicated that the investment in Anthos is expected to support the company until MAA868 is ready for market.

Jay Bradner, head of the Novartis Institutes for BioMedical Research, commented: "The need for new medicines to treat cardiovascular diseases is clear, and this agreement is part of our strategy to work with innovators outside our walls to advance medicines that have the potential to have a positive impact for patients."